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Mirchandani Urges Push for Indigenous Aerospace Market

Global trade instability calls for India to develop its aerospace supply chain. Jaideep Mirchandani advocates for building self-reliance in aerospace parts.

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Mirchandani Urges Push for Indigenous Aerospace Market

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  1. ASELF-SUFFICIENT INDIGENOUSAEROSPACE PARTSMARKETMAYHELP INDIATHROUGHAPOTENTIAL GLOBALTRADEWAR,SAYS JAIDEEPMIRCHANDANI WWW.SKYONE.AERO

  2. AtarecentinternationalconferenceonthefutureofIndia’saviationandaerospaceindustryheldinBangalore, severalindustryleadersraisedtwokeyconcernsthatcouldslowdownIndia’srapidgrowth.Theseincludethe shortageofskilledprofessionalsandtheheavydependenceonimportedcomponents.Withnearly98percent ofaviationpartsstillsourcedfromabroad,manybelievethiscouldbecomeasignificantobstacle,especially followingthereciprocaltariffsannouncedbytheUnitedStatesthatareexpectedtoaffectallimports.

  3. AccordingtoGrandViewResearch,India’s aerospacepartsmanufacturingmarketwasvalued atUS$13.6billion in2023and is projectedto grow at acompoundannualrateof6.8percentfrom2024 to2030.Asairlinesexpandtheirfleetsand moderniseaircraft,thedemandforaerospace componentsisexpected toincrease. Expertsbelieve thisistherighttimeforIndiatodevelopastronger domesticbasetoreducerelianceoninternational suppliers. WearestillassessingtheimpactoftheUStariffs, particularlyforIndiawhichhasplacedlargeorders forneweraircraft.NorthAmericaaccountsfor around50percentoftheglobalaerospaceparts market,andthenewtariffislikelytoincreasethe costofimportedcomponentsandraise maintenanceandrepairexpenses.Inthisscenario, onepracticalsolutionistostepupeffortstoward indigenisation,especiallyinmanufacturing,”says JaideepMirchandani,groupchairmanofSkyOne.

  4. Headdsthatwithmorepassengertrafficandexpanding airlineoperations,thedemandforMROserviceswithin Indiawillcontinuetogrow.“Thistrendcandrivetheneed forlocallymadeaircraftcomponentsandrelated services.India’sstrengthsinsoftwaredevelopment, cost-effectivelabour,easeofdoingbusiness,and supportivepoliciesofferastrongfoundationfor aerospacemanufacturerstoestablishandscale operations,”saysMrMirchandani. HepointsoutthatIndiancompaniesproducinglanding gear,wingstructures,fuselagesections,electrical switches,andmotioncontrolsystemsarenowplayinga crucialroleinthesupplychain.“Manyleadingaircraft andenginemakersarealreadysourcingpartsfrom India.Wearealsoseeingincreasingpartnerships betweenIndiansuppliersandglobalmanufacturers, whichcanleadtobettertechnologyaccessand improvedproductioncapabilities.Strengtheningthe MROsector,investinginresearchanddevelopment,and developingaskilledworkforceareallessentialstepsin buildingareliableindigenousmanufacturing ecosystem,”heconcludes.

  5. Thank You info@skyone.aero +97165579577 www.skyone.aero B1-01-04A,SaifZone–Sharjah, UnitedArabEmirates

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